US Auto Sales, Q3 2019: Analysed
Automakers in the US (and the World) are currently going through a tough phase in 2019. The rising manufacturing costs of vehicles, lesser footfalls in the showrooms, and rapidly escalating tensions in trade with China are seen as some of the reasons for the same. The 3rd Quarter of 2019 shows a similar trend as well. While some Car majors have seen highs, others are witnessing lows as well. Here's a report on the US Auto Sales in the 3rd Quarter of 2019.
- GM sales saw an increase of 6.3% in Q3 2019 as compared to the same time period last year, despite the ongoing clashes with UAW.
- Ford saw a decline in sales by 4.9% and FCA reported flat sales for Q3 in 2019 YoY.
- September saw a decline of 11.7% in Car sales, while the overall car sales for the 1st 9 months of 2019 saw a dip by 1.4% YoY.
- BMW of North America, Hyundai Motor America, Kia Motors America, Jaguar Land Rover North America, McLaren, Mitsubishi N.A., Subaru of America, Volkswagen Group of America, and Volvo Car USA, showcased growth in Q3 2019 as compared to Q3 2018 YTD.
With the rising shift of buying preferences among consumers towards SUVs and Eco-Friendly vehicles, Carmakers are venturing out ways of increasing their sales.
Despite the UAW's strike with GM, the brand's redesigned Truck lineup, helped them shave off the otherwise disappointing Car sales that saw a decline of 38% in Q3. The sales of the Trucks and Vans, increased by over 8.8% in the Q3 while the Crossovers saw a rise of 28% as well, owing to the introduction of newer Models. The ongoing UAW strike, however, looks to bring gloomier days for employees of this Detroit based manufacturer as a reduction in profits has cost nearly $4,000 in the net home take away for every worker.
Ford Motor Company
Ford meanwhile, saw a decline of 6% in the sales of its F-Series of pickup trucks in Q3, dragging the overall sales of the lineup down by 2.4% in the 1st 9 months of 2019. That's mainly due to the redesigned lineup of trucks from the competition, mainly GM and Ram.
The Dearborn-based manufacturer also reported an overall increase of 8.8% in the sales of trucks and vans in Q3. However, SUVs saw a decline of 10.5% in sales in Q3, while the Cars saw a massive downslide of 28% in the same period.
Ram trucks, reported an increase of 13.8% in the sales of its trucks in Q3, outselling the Chevy Silverado and claiming the 2nd spot in the Trucks category, behind the F-Series from Ford.
This is due to Ram's strategy of selling both newer trucks and not phasing out the older models.
Subaru of America
Subaru of America's record profit run of 93 consecutive months of yearly, month-over-month growth, was halted in September 2019, with a decline of 9.4% over September 2018. However, Subaru still managed to grow at 4.4% in 2019.
Honda Car USA, BMW of North America
Honda and BMW, showed a flat growth curve as sales fell by 0.1% for the Japanese marquee and rose by 0.4% for the German brand, over the 1st 9 months of 2019.
Hyundai Motor Corporation, Kia Motors
Korean car majors Hyundai and Kia managed to show positive growth YoY, growing at 3.9% and 2.6% respectively. The Elantra continues to be Hyundai's best selling model in the US and the slew of new car launches and refreshes, are adding to the sales of both these brands.
Jaguar Land Rover North America, Mitsubishi, Volvo Car USA
Contrary to the Global gloom and market conditions, JLR North America, managed to grow at 3.2% YoY. Mitsubishi and Volvo Car USA also managed to grow at 2.3% and 4.7% respectively YoY.
Volkswagen of America
Global Auto major VW, also showed positive growth figures for September 2019, ending the month with growth figures of 1.3% YoY.
Toyota Motor Corporation
Another global Car major, Toyota Motor Sales USA, comprising of the Lexus and Toyota brands, showed a negative growth of 2.5% in September 2019 over September 2018.
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